Desjardins Cuts Pet Valu (TSE:PET) Price Target to C$26.00

Pet Valu (TSE:PET) had its price target cut by Desjardins from C$32.00 to C$26.00 in a research report report published on Wednesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. ATB Cormark Capital Markets decreased their target price on shares of Pet Valu from C$40.00 to C$30.00 and set an “outperform” rating on the stock in a report on Wednesday. Stifel Nicolaus decreased their target price on shares of Pet Valu from C$32.00 to C$23.00 and set a “buy” rating on the stock in a report on Wednesday. TD Securities decreased their price objective on shares of Pet Valu from C$40.00 to C$34.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Barclays lowered shares of Pet Valu from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from C$28.00 to C$17.00 in a report on Wednesday. Finally, Canadian Imperial Bank of Commerce decreased their price objective on shares of Pet Valu from C$28.00 to C$22.00 in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$24.56.

Pet Valu Price Performance

TSE:PET opened at C$17.67 on Wednesday. The firm has a market capitalization of C$1.20 billion, a price-to-earnings ratio of 12.90 and a beta of 1.27. The company’s 50-day moving average is C$21.26 and its two-hundred day moving average is C$26.22. Pet Valu has a 1-year low of C$16.58 and a 1-year high of C$39.24.

Pet Valu (TSE:PET) last posted its earnings results on Tuesday, May 12th. The company reported C$0.31 earnings per share for the quarter. The company had revenue of C$287.94 million for the quarter. Pet Valu had a net margin of 8.11% and a return on equity of 117.77%. As a group, equities analysts anticipate that Pet Valu will post 1.6820546 earnings per share for the current fiscal year.

Insider Transactions at Pet Valu

In other Pet Valu news, Director Carmine Fortino bought 10,000 shares of Pet Valu stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of C$17.26 per share, for a total transaction of C$172,600.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at C$172,600. This represents a ∞ increase in their ownership of the stock. 0.29% of the stock is currently owned by company insiders.

Trending Headlines about Pet Valu

Here are the key news stories impacting Pet Valu this week:

• Positive Sentiment: Director Carmine Fortino bought 10,000 shares of Pet Valu Holdings Ltd. (TSE:PET) at C$17.26 per share, a signal of insider confidence that can support sentiment. Pet Valu (TSE:PET) Director Buys C$172,600.00 in Stock
• Positive Sentiment: TD Securities upgraded Pet Valu Holdings Ltd. (TSE:PET) to strong-buy, adding a bullish offset to the recent analyst chatter. Pet Valu upgraded by TD Securities to strong-buy
• Positive Sentiment: Despite recent cuts to targets, analyst coverage still clusters around Moderate Buy, which suggests the broader Street view remains constructive on Pet Valu Holdings Ltd. (TSE:PET). Pet Valu Holdings Ltd. (TSE:PET) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Neutral Sentiment: A feature article highlighted Pet Valu as a deeply discounted Canadian stock that some investors may want to buy and hold, reinforcing the idea that the share price may be viewed as depressed rather than broken. 1 Practically Perfect Canadian Stock Down 53% to Buy and Hold Forever
• Negative Sentiment: Several firms lowered price targets for Pet Valu Holdings Ltd. (TSE:PET), including Raymond James, National Bank, Stifel, ATB Cormark, CIBC, and RBC, signaling softer near-term expectations. Pet Valu Price Target Cut to C$21.00 by Analysts at Raymond James Financial
• Negative Sentiment: Barclays downgraded Pet Valu Holdings Ltd. (TSE:PET) to Equal Weight, which likely added pressure to the stock by tempering expectations. Pet Valu (TSE:PET) Downgraded by Barclays to Equal Weight

About Pet Valu

Pet Valu Holdings Ltd is engaged in providing pet-related products through its stores. Its products include Dry Food, Wet Food, Frozen raw food, Jerky Treats, and Training treats among others. The services offered by the company include Dog Wash, Adoption, Grooming, and Frozen Raw.